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OKX Ventures to Buy 19.6% Stake in South Korea’s Coinone for $53 Million

OKX Ventures to Buy 19.6% Stake in South Korea’s Coinone for $53 Million

Coinone states that it signed a 160 billion won strategic investment agreement with Korea Investment & Securities and OKX Ventures, with each committing 80 billion won for 19.6% stakes pending regulatory approval as Coinone expands into stablecoins and tokenized securities.

Fact Check
The Block article 'OKX confirms $53 million investment to acquire 20% stake in Coinone crypto exchange' directly confirms every element of the claim: OKX Ventures invests $53M (80 billion KRW) for 19.6% of Coinone, Korea Investment & Securities matches for an equal stake, and the structure combines existing-share purchases and newly issued shares. PANews independently confirms citing The Block. The earlier Edaily report mentioned 20% each and higher dollar amounts as preliminary estimates, but the officially announced figures align with the claim. The claim's mention of pending regulatory approval is consistent with how such cross-border crypto exchange stake acquisitions typically proceed in South Korea.
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Summary

Coinone announced that it signed a 160 billion won strategic equity investment agreement with Korea Investment & Securities and OKX Ventures, under which each investor will commit 80 billion won, or about $53 million, for a 19.6% stake pending regulatory approval. The deal confirms the previously reported ownership structure and investment size, while later details indicate the transaction combines purchases of existing shares with new share subscriptions rather than relying mainly on newly issued shares alone. Coinone also indicated the parties plan to hold a press conference in South Korea in June. Beyond the ownership transaction, the investment is tied to Coinone’s broader expansion into stablecoins and tokenized securities, signaling an effort to diversify beyond spot crypto trading into blockchain-based financial products that connect digital assets with traditional finance.

Terms & Concepts
  • Stablecoins: Cryptocurrencies designed to maintain a stable value, usually by being linked to a fiat currency such as the U.S. dollar.
  • Tokenized securities: Blockchain-based digital representations of traditional financial assets, such as stocks or bonds, that can be issued or traded on distributed networks.
  • Share subscription: An investment structure in which an investor buys newly issued shares, providing fresh capital directly to the company.